never use only drop once!
Join Date: Nov 2011
Location: The Right Coast
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I'm not licensed in CT, so i can't tell you what the rates are there. If you found a more competetive rate, go for it but:
Statistically, you're the anomoly. drivers under 25 that are single pay the highest premiums because they cost the most. The only demographic that bleeds more than you is under 25 single males. Military isn't usually a discount per se. If you have a company that offers a garaging policy, you can use that to keep your premiums down if you're active duty and not with your car, so in that case, it would count. Have you checked USAA? They're usually very competitive and military only (or a family member) as long as you have a clean record.
Make sure that you're getting equal or better coverage with GEI over your current carrier. Also, make sure it's not a rate that's going to balloon if you have an accident. A lot of companies do that. You're obviously free to switch, but you'll be getting pegged with an accident over getting a more stable rate with a clean record where you might pay a little more, but won't have a crazy surcharge if you DO have an accident. Everyone gets into accidents at one point or another.
And please, for the love of God, don't be on state minimum coverage. You're young, so you probably don't have very many assets, but that's your protection against law suits. The last thing you want is garnished wages because you cause an accident and over-ran your limits. That shows up in your credit report too and can impact your ability to get loans. I'm only 27. I carry 100,000 per person 300,000 per accident and 50,000 in property damage...I rent, so it's not like I need to protect home equity, but I like my 401k and my Roth IRA and my stock portfolio, and my car, etc. etc. etc.
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